Maritime Industry Top News
New Damen Shoalbuster Named
The naming ceremony for the first of the two Damen Shoalbusters 3009 being built for marine solutions specialist SMIT Amandla Marine at Damen Shipyards Cape Town (DSCT)…
GTT Debuts LNG Advisor
GTT, the world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announces the launch of a new offer with LNG Advisor.
LNG Shipping Under Pressure from Tumbling European Re-exports
LNG shipping freight rates continue to be under pressure from weak Asian demand and a growing fleet. Shipowners are now pinning hopes on a revival in European demand.
Box Ship Demand Down
While, weak spot prices and higher futures prices created demand for oil tankers has boomed, bulk carriers have been hit by massive overcapacity, as Chinese demand for such commodities has collapsed…
Dry Bulk in Dimlight
Worse is still to come for many bulk carriers, warns a report in the Economist that claims that the dry-bulk cargo shipping has hit the bottom. Between the start…
Creditors to Pump $3.7B into Ailing DSME
Creditors of South Korea's Daewoo Shipbuilding and Marine Engineering Co. will pour 4.2 trillion won about (US$3.68 billion) into the ailing shipyard to help it get back on track…
DNV GL launches new decision support tool for the retrieval of BOPs
Retrieving an unreliable blowout preventer (BOP) is a necessary but expensive operation, costing upwards of one or two million dollars and easily the double in developing ultra-deepwater regions.
GasLog Posts Good Results
GasLog Partners LP, an international owner and operator of liquefied natural gas (LNG) carriers, increased quarterly cash distribution by 10% to $0.478 per unit for the third quarter of 2015…
Mitsui O.S.K. Lines Revises Business Outlook
Looking at the Company’s business performance for the first half of FY2015, operating income and ordinary income improved as the tanker division enjoyed favorable market conditions…
Port of Rotterdam Ties Up with Bank of China
The Bank of China and the Port of Rotterdam Authority signed a Memorandum of Understanding aimed at strengthening relations between China and the Netherlands. Through this Memorandum…
US Port Projects Awarded $44.3 Mln in Grants
After evaluating 627 applications, 50 of which were from ports, for the FY 2015 Transportation Investment Generating Economic Recovery (TIGER) grants, U.S. Department of Transportation (USDOT) Secretary Anthony Foxx today announced 39 awards for $500 million in funding to be made in the seventh round of this multimodal, discretionary grant program. Of those, five awards totaling $44.3 million, or about 9 percent of total funding…
AlphaEye: Real-time Audio Visual Support
Alphatron Marine has introduced what it is calling “the next generation service communication tool”; AlphaEye aims to offer the capability to have an extra set of eyes “on board”, allowing for support specialists to be standing by 24/7 to solve any problem, globally and remotely. With AlphaEye, the crew on board can directly call through a dedicated communication link via satellite from 128kb, 3G or 4G to reach an expert in the Alphatron Marine office.
First US Shale Gas Exports to Sail into Oversupplied Market
When Cheniere Energy opened a new liquefied natural gas import terminal in Louisiana in 2008, a U.S. shale drilling boom quickly made it obsolete. Seven years on…
Wärtsilä JV Breaks Ground in China
CSSC Wärtsilä Engine (Shanghai) Co. Ltd (CWEC) celebrated the beginning of construction on its new 20,000 sq.m. factory with a groundbreaking ceremony on October 28 in Lingang, Shanghai. Following the groundbreaking ceremony, strategic cooperation agreements were signed between CWEC and the Hudong Zhonghua and Shanghai Waigaoqia (SWS) shipyards. According to Wärtsilä , these agreements will be instrumental…
Peaker Energy Building Texas Condensate-export Terminal
The first company to get U.S. government approval to ship minimally processed super-light oil to international markets is building its own export terminal on the…
Rolls-Royce to Power and Equip New DSV
Rolls-Royce informs it has signed a contract with Huangpu Wenchong Shipyard in China for a package of advanced ship equipment for a new 124-meter long Dive Support Vessel (DSV). The vessel will be designed by Skipsteknisk in Norway, and is to be delivered in 2017 to its owner, Singapore-based Jumeira Offshore Pte. Ltd. Under its contract with the shipbuilder, Rolls-Royce is to supply dynamic positioning (DP3)…
Yamal LNG Financing in Final Stages
A deal to raise financing for the Novatek-led Yamal LNG project in Russia is in its final stages, Chairman of Gazprombank, Andrey Akimov, told Reuters. Gazprombank is a co-lender to Yamal LNG on the Russian side, along with Sberbank. State development bank VEB has pledged $3 billion in banking guarantees to the project. Akimov said that Chinese lenders are set to provide $12 billion, Russian banks $4 billion, and export credit agencies are expected to put up another $4 billion.
Solar-electric Workboat Completes Maiden Cargo Run
Harnessing solar propulsion, the 39-foot vessel Solar Sal has recently completed the final leg of its maiden cargo run, carrying recycled cardboard along the Erie Canal without using a single drop of fossil fuel. Solar Sal traversed 72 locks and traveled a total of 650 miles across the state of New York, delivering four tons of cargo from Lockport to a paper mill in Mechanicville on its history-making journey. The vessel runs 8.3 mph on twin Torqeedo Cruise 4.0 electric motors.
NAT Adds Two More Tankers
Nordic American Tankers Limited (NAT) has taken delivery of the second of two Suexmax tankers recently purchased secondhand. The shipper announced in July that it…
Shanghai Port Logs Quarterly Profit Fall
Shanghai International Port Group Co Ltd, the operator of the world's busiest container port, reported its first fall in quarterly net profit in over a year, providing…
